Word: nettings
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...much of the weakness reflects softening demand, an industry contact notes that about half the decline in occupancy rates is due to new hotels opening; the total number of hotel rooms in Manhattan is expected to increase by roughly 7,000 (10%) in 2009, or more than triple the net increase...
...other words, Washington is providing lots of funding for "social safety net" programs - precisely the kind of programs that poor and unemployed Chinese really need and the government barely provides. Meanwhile, China is throwing money at infrastructure projects to a degree that the U.S. - with its creaky bridges, potholed roads, crumbling schools and obsolete airports - hasn't seen in decades. There is some infrastructure spending in the U.S. plan, to be sure, but not enough, many economists believe, to deliver a real jolt to a moribund economy...
...their credit, President Hu Jintao and Premier Wen have talked about the importance of expanding China's safety net and boosting rural incomes. But the global economic crisis may force them to move more quickly on these fronts. China's unemployment rate could reach 14% before the crisis is over, according to one recent study, even with all the infrastructure spending Beijing is throwing at the problem. Wen himself said Thursday that if the economy doesn't grow 8% this year (and only the most optimistic economists believe it will), the country risks politically destabilizing social unrest...
...foundation, notes that the government has started down this road with a new plan to drastically expand health coverage in rural China, where some 800 million of China's 1.3 billion people live. That's a step forward. But China will need to spend more to expand its safety net, as Lu says, and it needs to hurry. If only it could import Barack Obama's economic-recovery act. It might work better here than it does at home...
...Then, the Crimson was still waiting to snap a ten-game winless streak, giving up unnecessary penalties, and failing to put enough pucks in the net...